Cyberattack on Colonial Pipeline pushes oil price higher
Colonial aside, oil may be vulnerable to some abrupt long-covering sell-offs as the week progresses, one analyst says
10 May 2021 - 11:10
London — Oil rose on Monday after major US fuel pipeline operator Colonial Pipeline had to shut fuel pipelines due to a cyberattack, raising concerns about supply disruption and pump price increases.
Colonial Pipeline said on Sunday its main fuel lines remained offline after the attack that shut the system on Friday, but some smaller lines between terminals and delivery points were now operational...
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